Halo Branded Solutions, backed by Audax Private Equity, has acquired Michael C. Fina Recognition (MCF) to build its corporate recognition and incentive programs. MCF marks as Halo’s fifth add-on acquisition. Financial details of the transaction were not disclosed.
MCF, a division of luxury tableware retailer Michael C. Fina, was founded in 1965 to develop corporate rewards programs. The New York-based target has programs to incentivize employees for a variety of achievements and milestones. The MCF deal creates product and service cross-sell opportunities for Halo. The target's list of recognition program partners include: McDonald's Corp. (NYSE: MCD), Visa Inc. (NYSE: V), Time Warner Cable Inc. (NYSE: TWC), Walgreens Boots Alliance Inc. (Nasdaq: WBA) and AT&T Inc. (NYSE: T).
Halo, a U.S. supplier of promotional products, was acquired by Audax in April 2016 and has since made four add-on purchases prior to the MCF deal. Some of Halo’s clients include: Ace Hardware, the National Hockey League’s Columbus Blue Jackets, and the Wendy's Co. (Nasdaq: WEN). Audax backs lower middle-market companies with up to $35 million in Ebitda.
Audax has been rather busy in the recent months trailing February. The Boston private equity firm raised a $1.6 billion senior loan fund to target business services and consumer product deals in October 2016. The PE firm also purchased RelaDyne, a fuel and lubricant distributor from AEA Investors LP; and sold Laborie Medical Technologies, a Canadian maker of medical diagnostic tools, for $640 million. Audax won Mergers & Acquisitions’ 2015 Mid-Market Award for Private Equity Firm of the Year.